Flat6Labs

ACCELERATING THE FUTURE

Flat6Labs Launches in Jordan: A $20m Seed Fund and Seed Program

Flat6Labs, MENA’s leading seed investor and the largest manager of startup programs in the region, has announced the launch of a new USD 20 million Seed Fund in Jordan. Created to nurture the growth and development of early-stage companies, the Jordan Seed Fund (JSF) has achieved a first close of USD7.4 million and attracted contributions from prominent investors such as the International Finance Corporation (IFC), the Innovative Startups and SMEs Fund (ISSF), Beyond Capital, Bank Al-Etihad, and GMS Ventures & Investments.

 

Applications for the program’s first four-month cycle are now open. Participating companies will have the opportunity to benefit from a cash seed investment of up to JOD 50 thousand each, together with potential follow-on funding of up to JOD 120 thousand. In addition to attractive funding opportunities, startups will benefit from the Flat6Labs Amman seed program. The program will run over a five-year period and is set to deliver a host of benefits to between 14 and 18 startups every year, including office space, world-class mentorship and access to Flat6Labs’ regional network. 


The program is specifically targeted at startups in innovation-based and knowledge-driven sectors such as Information and Communication Technologies, Software Solutions, Education, Healthcare, Digital Content and Games, Hardware, Electronics, Manufacturing Solutions, Renewable Energy, Agricultural Solutions, Big Data and Analytics, FinTech and Payments, Media, and Entertainment. Each of the selected startups will receive tailored support designed to help them scale and grow their businesses, with the long-term goal of creating regional, and ultimately global, champions. 

 

Participating companies will also benefit from opportunities for regional exposure and mentorship through Flat6Labs’ extensive international network, together with coaching from established business leaders. Each startup will be paired with at least three highly experienced mentors. In addition, Flat6Labs Amman will arrange Demo Days, support fundraising and business build-out, and deliver a full spectrum of support designed to help new businesses flourish.

 

Ramez El-Serafy, Flat6Labs CEO, commented: “We are delighted to expand our presence into Jordan with the launch of an early-stage fund and seed program, which creates exciting opportunities for local startups. As the region’s leading seed and early-stage venture capital firm, Flat6Labs is well placed to support the aspirations of the Kingdom’s talented entrepreneurs and help them take their businesses to the next level. We aim to support the growth and development of Jordan’s start-up ecosystem, and thus contribute to a thriving national economy.”


Rasha Manna, General Manager of Flat6Labs Jordan, added: “Jordan is home to a pool of talented entrepreneurs who are ready to showcase their ideas to the world. We provide foundational support to startups through funding, mentorship and networking opportunities across the region and beyond. We are excited to now open applications for our first cycle and look forward to starting work with Jordan’s most promising startups in the very near future to help them effectively scale and grow their business.”

 Laith Al-Qasem, CEO at ISSF shared: “ISSF has been mandated to improve the Jordanian entrepreneurial ecosystem through acting as a fund of funds and through facilitating the creation of new funds to serve the investment needs of entrepreneurs and start-ups along their journey towards success. Flat6Labs fills an important gap and role by providing studied equity capital starting from seed stage accompanied by competent hands on incubation and mentoring which will facilitate speedier and more focused growth in the investments they make.”


“Jordan is an attractive market for entrepreneurship and early-stage capital given its young and increasingly urban population, high rates of technology adoption, and increasing government support,” said Abdullah Jefri, IFC’s Country Manager for the Levant “Addressing the funding gaps will help build a robust startup ecosystem to tap into this potential and spur innovation and economic growth in Jordan and the region.”


Launched in 2011, Flat6Labs has grown to become the MENA region’s leading startup accelerator managing seed funds with a total AUM of more than $85 million. The company has run over 40 seed program cycles, funding the creation and seeding of more than 320 companies. Approximately 40% of Flat6Labs’ graduating companies have succeeded in securing follow-on rounds of funding from regional and global institutions and individuals at higher valuations, translating to an unrealized IRR in excess of 25%.

 

Applications for the Flat6Labs Amman Seed Program are open now. To find out more, please click below.

 

Flat6Labs in partnership with SIAC and Dar-Al-Handasah launch “Makers”, ConTech Innovation Program to foster construction startups across Egypt

Cairo, Egypt – 23 November 2022 Flat6Labs, the region’s leading seed and early-stage venture capital firm, has launched ‘Makers’ a construction-tech Innovation Program in collaboration with SIAC, a leading regional private construction firm, and Dar-Al-Handasah (Dar), an international consulting company in engineering, to foster startups in the construction technology solutions across Egypt. Makers ConTech program includes a pre-accelerator for early stage startups and an accelerator program with an investment component for more advanced startups. The pre-accelerator program aims to promote construction industry innovation through connecting and engaging with various stakeholders with extensive expertise, as well as to creating sustainable innovation ecosystems for construction-related challenges within SIAC, Dar and the industry at large.

The Makers ConTech Innovation Program in its pre-accelerator stage, will provide selected startups with strategic mentorship, entrepreneurship-focused business training, subject matter one-on-one sessions, and a wide range of perks and services from partners. The pre-accelerator program is designed to support entrepreneurs by guiding them in developing and presenting their innovative ideas and solutions to SIAC and Dar, with the possibility of being selected to run a pilot program with both companies. After completing the program, startups will be well-positioned to raise funding.

The pre-accelerator program also aims to shed light on the significance of the construction revolution and the adoption of new digital technologies in the construction sector in order to boost its competitiveness and productivity. Bringing the construction industry one step closer to a more sustainable, productive, and technologically advanced environment.
“A shift toward digitizing construction solutions is becoming increasingly important in order to achieve safer and more productive results. Using robotics and data analytics to digitize construction processes for construction sites and industrial plants, data assembly, transactions, and city design, companies will be able to save labor costs, address labor shortages, and improve safety. We are excited to launch the Makers ConTech Innovation Program in collaboration with SIAC and Dar-Al-Handasah with the goal of supporting, investing, and nurturing innovative, sustainable, and promising startups to drive the construction industry revolution,” said Albert Malaty, Managing Director of Flat6Labs, Cairo.

Faysal Shair, Head of Digital Practice at Dar said, “We are incredibly excited to be partnering with Flat6Labs and SIAC to launch the Makers ConTech Innovation Program focused on empowering entrepreneurs to create technology-driven solutions and opportunities for the design and construction sector. We’re looking to develop and support innovators who have the vision, ideas, expertise, and determination to reimagine this exceptionally complex sector and find ways to make it more sustainable, resilient, future-fit, and safer for workers and communities.”
“If we look locally, we can see the sheer scale of construction projects undertaken on a public and private scale. Yet, with this in consideration, the construction sector is still one of the lowest tech-penetrated industries globally and regionally: a sector that hasn’t seen significant productivity growth in the past decade compared to manufacturing or retail. To tackle this issue locally and regionally, we partnered with Dar, Flat6Labs, and other international stakeholders with experience investing in construction technologies and venture building to create the Makers ConTech Innovation Program. In addition, we will enable aspiring entrepreneurs to conceive soft and hard tech innovations that focus on specific industry obstacles by providing them with the necessary resources and industry knowledge. Our overarching objective is to raise awareness of the many opportunities within the sector and increase investor activity in construction technologies.” stated Seif Ragab, Board member at SIAC.
Technologies are a critical asset in meeting the challenge of transforming the construction industry. The new Makers ConTech business models will assist engineers and the construction sector in particular in building, designing, and growing in a cost-effective, sustainable, and safe manner. According to the crunchbase data, almost USD 17B raised by Contech companies with venture capital firms backing. In addition, 24 venture backed construction companies were acquired and 125 venture-backed real estate companies were acquired in 2021.
Flat6Labs will continue to empower innovative startups to achieve their goals by providing funding, technical assistance, and networking opportunities across the country and beyond.

For more information about the application, visit this website: Here

Flat6Labs Hosts its Third Demo Day in the UAE in Conjunction with GITEX

As a part of the Flat6Labs Ignite seed program, Demo Day is an opportunity for investors to engage with some of the most innovative start-ups in the UAE

Dubai, United Arab Emirates – 05 October 2022 – Flat6Labs, the MENA region’s leading seed-stage program and early-stage venture capital firm, today announced it will be making its GITEX Global debut at the 2022 edition of the show. The company will leverage the event as an opportunity to showcase 22 of the most innovative companies under its seed programs in the UAE and broader MENA region.

In addition, the company will also host its Demo Day on October 12th where start-ups that are part of Cohort 3 of Flat6Labs Ignite will have the opportunity to present and pitch to leading regional venture capitalists, angel investors, corporates and entrepreneurship ecosystem leaders with the aim of securing additional investment.

“While for over four decades, GITEX has been the region’s premier enterprise IT trade show, we are excited to see it also become a platform for the region’s vibrant start-up ecosystem. Over the last year and half, Flat6Labs Ignite, which we run in partnership with ADQ’s DisruptAD, has quickly become one of the most sought-after seed programs in the UAE, even drawing the formal support of the Ministry of Economy in Abu Dhabi,” said Ryaan Sharif, General Manager at Flat6Labs UAE.

“Building on this momentum, at our GITEX debut, we will showcase the value of our program, and provide our start-ups with the opportunity to reach key stakeholders from across the region. We also intend to engage with innovative start-ups attending the show that would be interested in applying to be part of Cycle 4 of our program and more importantly looking to scale into the MENA Region using Abu Dhabi as the headquarters” added Sharif.

Over the five days of the event, Flat6Labs will host 22 of its start-ups in rotation, offering visitors an opportunity to engage with each of these at one of the stand’s dedicated demo kiosks. These organisations span multiple sectors including EdTech, HealthTech, Cybersecurity, Real Estate, Construction, Sustainability, Automotive, and Sports Engagement – with each offering a pioneering product or service designed to disrupt their industry.

Arguably the highlight of Flat6Labs’ week at GITEX is the demo day for Cycle 3 start-ups which will be held on the iconic Queen Elizabeth 2 cruise liner in Dubai the evening of Wednesday, 12th October. At this event, high net worth individuals, venture capitalists, and angel investors will have the opportunity to get a deep dive into the business and value proposition of each of the start-ups within Flat6Labs’ latest cohort. These include:

Dardoc who provide healthcare on demand through a network of nurses, caregivers, physios, and other professionals.

Digital First AI, a company that assists organisations with their growth by delivering personalised marketing and execution strategies within minutes.

  • Fitlov, a fitness focused firm that digitises the personal training experience by easily connecting trainers with their consumers.
  • Fundomundo an online platform that deliver virtual, interactive live classes for children.
  • Hulexo which empowers retail stores to sell more by eliminating inventory issues.
  • Lune Technologies who unlock valuable spending insights for institutions and end users.
  • MAKAN, a pioneering furniture rental concept that is disrupting the furnishing industry.
  • Channelpro who equip vendors and distributors with the digital tools to motivate, educate, and communicate with their sales force.
  • Savii, a FinTech company that empowers youth to spend, save and invest by providing them with a full banking experience.
  • Scalable CFO who enable all small businesses to get the benefits of a CFO without the inhibiting costs.

“Each of these start-ups has been meticulously vetted from over 700 applicants and has subsequently received world-class mentorship to refine their strategies and operations. They are now primed for the transformation from promising start-up to industry pioneer. Attendees to Demo Day therefore have an unparalleled opportunity to invest at a critical stage with the potential to deliver impressive returns on their investment,” said Ryaan Sharif.

The Flat6Labs Ignite Program launched in March 2021 with a partnership with ADQ’s DistruptAD. Flat6Labs has made over 30 investments in start-ups from multiple sectors. Collectively, these start-ups — which include the likes of Washmen, RemotePass and Dharma — have since gone on to raise significant follow-on funding, with many reaching enterprise scale with operations spanning multiple geographies.

Flat6Labs Appoints Yehia Houry as Chief Programs Officer

Cairo, Egypt – 26 September 2022

Flat6Labs, the MENA region’s leading seed and early-stage venture company, announced today the appointment of Yehia Houry as Chief Programs Officer. His appointment and move to Egypt follow a successful five-year journey as the Managing Director of Flat6Labs in Tunisia.

Mr. Houry spearheaded the launch of Flat6Labs and its operation in Tunisia during the past few years. In his new capacity, he will work as part of the executive team on planning and implementing new programs and products for Flat6Labs globally.

“It is with great pleasure that we welcome Yehia to his new position, with confidence that he will continue to play a vital role leading Flat6Labs’ next chapter of growth and success in his capacity as CPO.” said Ramez El-Serafy, CEO of Flat6Labs.

“Flat6Labs’ success has always been rooted in putting entrepreneurs at the center of our efforts. I look forward to working alongside the executive team as well as colleagues at headquarters and across country offices to expand our operations and grow our impact globally.” said Yehia Houry, CPO of Flat6Labs.

Yehia joined Flat6Labs in 2017 with more than 15 years of experience in venture capital investment and tech-driven startup entrepreneur support. Prior to Flat6Labs, he was leading tech-driven initiatives for youth employability and entrepreneurship at a regional organization working across the Arab world. Throughout his career, he notably held various roles in research, multilateral organizations in Africa,Asia and the Middle East before joining the World Bank’s Microfinance division. As an Acumen Fund Fellow, he was an advisor for a large-scale health-tech company in India. Yehia holds a BSc in Computer Science from McGill University in Canada and a Masters in International Affairs from Columbia University in New York.

Organon and Flat6Labs Announce Winners of MENA Region’s First Digital-Health FemTech Accelerator

Omgyno’ founded by Doreen Toutikian and Elisabeth Milini in Greece and Lebanon, ‘Siira’ founded by Sandra Salame in Lebanon, and ‘Maternally’ founded by Yasmin El Mouallem in the UAE, were announced the winners of the region’s first digital-health FemTech accelerator, marking the culmination of the program that was launched by Organon and Flat6Labs at Expo 2020 to advance women’s health
The winners were announced at the ‘Demo Day’ event in Cairo Egypt, which saw the participants pitch their ideas to a panel of eminent judges from across the women’s health world

Cairo, Egypt, 13 September 2022 – Omgyno founded by Doreen Toutikian and Elisabeth Milini in Greece and Lebanon, Siira founded by Sandra Salame in Lebanon, and Maternally founded by Yasmin El Mouallem in the UAE were crowned the winners of the MENA region’s first digital-health FemTech Accelerator Program. Launched in October 2021 during Expo 2020 by partners Organon and Flat6Labs to address unmet women’s healthcare needs, the winners were announced after the program’s ten finalists from across Egypt, Lebanon, UAE, Bahrain, Morocco, and Jordan pitched their ideas to a panel of judges and an audience of prospective investors.

The pitches took place at the ‘Demo Day’ event, hosted at the GrEEK Campus. The panel of judges selecting the final winners consisted of Dina El Shenoufy, Chief Investment Officer at Flat6Labs; Ramy Koussa, Associate Vice President of MENAT at Organon; Dr. Amr Alashkar, Chief Information Officer at Cleopatra Hospital Group; Jailan El Messeiry, Group Digital Marketing & Communications Manager at UN Women; and Frederika Meijer, Country Representative at UNFPA.

 

Omgyno, the start-up that won first place, is a FemTech platform redesigning the gynecological experience. After identifying the causes behind gaps in testing for the potentially cancer-causing HPV virus, including fear of judgment and accessibility, the two entrepreneurs worked on a user-centered platform offering home testing and telehealth, tailored to promote self-care and privacy.
Siira, the start-up that sat in second place, developed a mental health platform designed to accompany women in their daily struggles related to parenting, relationships and work. Conscious that only 30%-35% of people with mental health problems seek professional support, Sandra Salame’s start-up is focused on addressing this gap.
Globally, one in five women experience mental health issues during pregnancy, and/or following birth. Seeking to plug this gap, Maternally, which was adjudged third runner-up, is an online platform being developed to cater to women’s specific mental health needs during their motherhood journey.

“At Organon, we understand that prioritizing women’s health is tied to long-term productivity and resilient societies. That’s why, as part of our ESG Economic, Social and Governance-driven purpose to achieve her promise, we are committed to investing in programs, partnerships, initiatives, and ideas that work to fill that gap. The best ideas for addressing these gaps truly come from the women who experience these challenges first-hand,” said Ramy Koussa, AVP MENAT, Organon.

“With vast unmet medical needs, today, women across the MENA region cannot fully participate in the economy on account of a lack of adequate healthcare. Shockingly, the region loses $575 billion yearly due to the lack of female economic participation,” he added.

Dina El Shenoufy, Chief Investment Officer at Flat6Labs, commented, “At Flat6Labs, we have been delighted to participate in and support this female empowerment initiative. Participating start-ups have received over 65 hours of training sessions led by top local and international advisors, and 27 hours of one-on-one coaching sessions, helping them gain a solid understanding of the FemTech market, connect with key leaders and grow their networks.”
“Our partnership with Organon not only works to redress many of the gender inequities we see in the start-up world, particularly around access to funding, but also to support better women’s health. We know that female health and economic empowerment go hand in hand. By investing in the women in our communities and supporting greater gender equality, everyone across our societies benefits,” she added.

The FemTech accelerator program, announced shortly after Organon’s launch in the MENAT region, is the first regional Environmental, Social, Governance (ESG) initiative by Organon that is committed to addressing unmet women’s needs. Inspired by Organon’s purpose to help women and girls achieve their promise through better health, the program was designed to support female entrepreneurship and digital health start-ups that advance women’s health by providing support to build products, test market fit and improve business models, as well as access to investors.

Is the Global Femtech Industry Empowered Enough?

Women’s healthcare looks uncertain in the future. But, the femtech industry is still developing and you’ll find out why.

The lack of research into the health of women led to the need for femtech. Despite the fact that women spend $500 billion on medical costs each year, just 4% of research and development funding was allocated to problems that directly affect women. Cultural taboos that create barriers for women to get treatable illnesses may be directly responsible for this lack of investment in women’s health.

By the end of 2022, the Global Femtech Market is anticipated to be worth USD 28.77 billion. “You know a topic is hot when VC’s money goes into it once they see opportunities in a field,” mentioned Hana Besbes, the Investment Manager at Heal Capital in Germany.

The largest funders of health tech businesses that concentrate on issues affecting women’s health have been early-stage investors. Since 2015, VC funding for the Femtech industry has increased threefold, rising from just over $600 million to about $1.9 billion in 2017, according to CNBC.

In this post, we will be tackling the opportunities, challenges, and recommendations that were mentioned in our panel talk “The Current State of FemTech Worldwide” in partnership with Organon, which took place on August 10, 2022.

 

Opportunities that could lead to growth in the Femtech industry:

Turning startups from offline to online has its upside due to better visibility, constant accessibility, and brand development. “The next wave of femtech is what Sophie is trying to do here with Nabta Health, in how we can radically change the standard of care of those women,” emphasized Hana.

Companies specializing in gynecology, fertility, and pregnancy have received the most funding. Infertility was identified by the WHO as a disease and a public health issue, and its rate is steadily rising according to CNBC. With the amount of data and studies done on that, it’s been spoken about and therefore investors have an interest in helping startups tackle this issue through funding.

Challenges that professionals face in the Femtech industry:

Speaking of data and studies, there isn’t enough R&D that could help with clinical support. Women are underrepresented in clinical trials, and their concerns have been disregarded in medical device development according to MedCity News. “Deep tech innovation”, as Hanna calls it, is needed. She is looking for a startup that aims to create the biggest bio-market platform for women’s reproductive health. There are many things that could be done once this is achieved.

“We need more data… from their genetic data to their medication, reactions, compliances, and clinical pathways in order to comprehensively improve women’s health outcomes” shared Sophie Smith, CEO and Founder of Nabta Health.

Another challenge is that male investors lack adequate knowledge related to the femtech industry and its impact. With more awareness of the impact of Femtech products, investors, researchers, and business owners have a real opportunity to support this rising innovation trend and usher in a new era in women’s health.

“We need a lot more support from people who understand the need and value proposition of femtech companies at the early stages” shared Sophie.

If you want to close the gap in the Femtech industry, awareness is a crucial first step, but the problem goes far more profound. The industry needs further development in terms of investment in the R&D sector to access more resourceful data which is critical for any startup’s innovative tech product and service. Farah Kabir, Co-Founder of HANX, expressed that founders should discuss their ideas with as many people as possible as early on as they can so they can tweak and produce more wonderful products

If you’re a startup founder, find out what insights our panelists had to share based on their own entrepreneurial journeys:

Nour Emam, the founder and CEO of Mother Being shares this advice since she went through this hiccup of perfecting her service to avoid failing again. So, she decided to lift her business up by expanding and spreading more awareness about what her business is about with partnerships and workshops.

“Move fast even if you fail quickly so you can try again.” shared Nour.

Echoing what Nour said, Eric Dy, the Co-Founder and CEO of BloomLife, adds that a lot of founders choose to start by focusing on the product, which is obviously crucial, but don’t lose sight of your commercial plan. He emphasized this point so founders can remember to understand their market and any potential stakeholders who may need to support their efforts throughout their growth journey.

“You may have an amazing product that a patient might love and support, but without doctors on board or a way for people to pay for it as they normally would, then you’re going to have a hard time. Understand the full pictures and not get super obsessed with just the product ” mentions Eric.

Don’t miss our upcoming Femtech Accelerator Demo Day, a part of our Femtech Accelerator Program in partnership with Organon. It’s the first of its kind in the MENA region where you can have the opportunity to learn more about the industry and the 9 global startups that will pitch their innovative products in various sectors.

You can tune in to the Demo Day which will be live streamed on September 12, 2022 here.

Connect with us on Instagram, Facebook, Twitter, and LinkedIn for more information.

Written by: Dana El Melki

Flat6Labs Celebrates Second Demo Day in Amman

Amman, Jordan – September 6, 2022 Flat6Labs, a leading seed and early-stage venture capital firm in the MENA region, celebrated its second Demo Day in Jordan, showcasing the seven graduated startups of the Amman Seed Program’s second cohort. The event took place on September 5, at the Four Seasons Hotel Amman.

During the event, the seven participating startups—which included Arab Therapy, Bloom Cart, Ipass, Khareta, QuiqClaim, Shop4me, and Sukoon—presented their innovative products and solutions in front of a large audience. The graduated startups cover a wide variety of industries and sectors, including Health and Wellness Tech, E-commerce, RealTech, FinTech, and Cyber Security.

Commenting on the occasion, Flat6Labs’ General Manager, Rasha Manna, said, “Once again, we are extremely proud to see our participants showcase the culmination of their tremendous effort, commitment, and resilience—not only during the last four months of the program but through all the hard work that led them to this point.  It’s incredible to see how our seed program has developed and expanded in our second cycle. This kind of growth—and the individual achievements of our participants—encourages us to continue seeking out new, promising entrepreneurs from the local community, so that we can equip them with knowledge, skills, and tools that will support their long-term success.”

The second cycle of Flat6Labs’ Seed Program kicked off on May 8th, 2022, bringing top-notch international consultants, coaches, and mentors to work closely with each of the startup teams, empowering them to achieve their business goals. The program facilitated networking opportunities to help the startups build and grow their networks and connect to global leaders. Over the past four months, the seven startup teams have been working on growing their customer base, refining their offerings, expanding to new markets, and building strategic partnerships.

About the Seed Program Startups

Arab Therapy: A web platform and mobile app offering digital mental health services and consultations in the Arabic language by highly qualified Arab therapists.
Bloom Cart: A try-before-you-buy software that automates returns for e-commerce websites in the MENA region, while integrating with local logistics companies, couriers, and payment gateways
Ipass: An onboarding solution provider that aggregates world-class anti-fraud tools on one platform, allowing businesses to eliminate the risk of fraud while guaranteeing a high-quality client experience
Khareta: A data-driven real estate marketplace that helps both buyers and sellers complete transactions faster and with greater confidence
QuiqClaim: A fintech startup offering peer-to-peer financing for the medical insurance industry, bridging the liquidity gap for healthcare providers
Shop4me: An online B2B marketplace that simplifies the complex procurement process by helping businesses find, order, and receive supplies from prequalified suppliers
Sukoon: A mobile mindfulness app that offers users tools and techniques for mental, emotional, and spiritual wellbeing, in the form of Arabic audio recordings designed to enable personal transformation and growth

Flat6Labs and SANAD Entrepreneurship Academy Launch Agritech Accelerator Program to Support Agri-digital Start-ups Across Egypt

Flat6labs, the region’s leading seed and early-stage venture capital firm, in collaboration with SANAD Entrepreneurship Academy launched an agritech accelerator program to assist 10 to 12 startups in each cycle to improve their business models, product development, customer relationships, marketing plans, and financial management. The collaboration marks the beginning of Flat6Labs’ mission to support emerging businesses in the agri-food, food security, and rural development sectors while highlighting the value of the agritech industry in Egypt.

The agri-tech program will give startups access to capital, to grow faster and efficiently, encouraging the development of technologies that make the agriculture industry sustainable, safe, and environmentally friendly. These technologies optimize service quality in the agriculture industry, by facilitating data collection and analysis to quantify performances, while limiting overprice of products/services.

‘’With digital transformation progressing rapidly across industries, and the agriculture industry being a core pillar of the Egyptian economy, the need to digitize the agriculture industry has increased dramatically. We are glad to launch this agritech accelerator program in collaboration with the SANAD Entrepreneurship Academy, as it will serve this need by supporting the startups that provide innovative technologies in the agriculture sector and will contribute to the sustainable growth of the Egyptian economy.” stated Hassan Mansi, Flat6Labs Head of Ecosystem Development Programs.

Empowering and promoting Egypt’s Agri-digital sector would result in advancements in automated machinery and robotics, increasing the efficiency of agricultural productions by precisely locating nutrient availability, checking for diseases, predicting them, and many other useful facilities.

Kim Reichel, Chairperson of the SANAD Technical Assistance Facility Committee said, ”We are very much looking forward to our cooperation with Flat6Labs as they have shown strong commitment to supporting innovative and technology-driven entrepreneurs across MENA. Together, we will create a positive impact by providing targeted support and enabling business owners to thrive. We believe that focusing on the agricultural sector, and specifically agri-tech, is vital in these challenging times and will contribute to increased food security across the region.”

 

Flat6Labs Egypt and SANAD Entrepreneurship Academy will continue to support bright, passionate, and tech-driven entrepreneurs in Egypt, by providing funding, technical assistance, and networking opportunities across the country and beyond. The venture capital firm will continue to be a cornerstone of the digital transformation of the Egyptian economy building successful job-creating startups that contribute to the economic development in Egypt.

Flat6Labs invests a total of $805,000 in seven Jordanian startups

Amman, Jordan – June 26, 2022 Flat6Labs—the MENA region’s leading seed- and early-stage venture capital firm, currently running the most renowned startup programs in the region—has recently announced that it is investing in seven new Jordanian startups, as part of the second cycle of its funding program, which was launched last June.

By funding startups across the MENA region—including in Jordan—Flat6Labs aims to support entrepreneurs and new businesses as they work to compete on both a local and global scale. The venture capital firm specifically targets startups in innovation-based and knowledge-driven sectors, such as information and communication technologies, software solutions, education, healthcare, digital content and games, hardware, electronics, manufacturing solutions, renewable energy, agricultural solutions, big data and analytics, fintech and payment solutions, media, and entertainment. 

Flat6Labs will be providing each selected startup in the current cycle with an investment of $115,000, including an initial capital injection of $65,000. In cooperation with an array of elite coaches and mentors, the venture capital firm will also provide these startups with a four-month training curriculum that includes a variety of workshops and mentoring sessions designed to cover all aspects of business development. Flat6Labs will additionally provide the participating startups with workspaces, marketing and legal support, and the opportunity to benefit from the firm’s regional network of partners and investors—along with the possibility to potentially receive subsequent financing of up to $170,000.

Commenting on the firm’s latest program cycle, Rasha Manna, General Manager of Flat6Labs Jordan, said, “At Flat6Labs, we are immensely proud of what we have achieved since the commencement of our operations in Jordan. In the first cycle of the program, we invested in five Jordanian startups, and the success of that inaugural cycle has resulted in an increase in demand and visibility for our program, allowing us to expand our investments in the second cycle. Ultimately, by connecting with and supporting local entrepreneurs, it is our objective to have a positive impact on Jordan’s economy and society as a whole—in particular, by diversifying the local economic landscape, creating new job opportunities, and helping develop a sea of success stories that will further encourage local entrepreneurs to pursue their ideas and visions. At the same time, we hope that our own achievements and those of our startups will set an example for other investors and venture capital firms, further highlighting the Kingdom’s potential for investments.”

 

The list of companies in the second cycle includes:

Arab Therapy
A platform that specializes in providing high-quality mental health services and counseling through psychotherapy sessions carried out by a group of highly qualified specialists.

Bloom
A company that bridges the gap between physical and online shopping through the “try-before-you-buy” software model, with the aim of automating the returns process for merchants and giving them complete control over their management.

Kharta
A data driven real-estate marketplace that helps both buyers and sellers complete the transaction faster and with more confidence.

Quiq Claim
A FinTech peer-to-peer settlement and investments platform, catering to the Medical Insurance industry.

iPass
A one-stop shop for worldwide identity verification solutions utilizing a deep pixel biometric fraud detection tools and a user friendly experience supported in 50+ languages.

Shop4me
A platform that provides logistics services by linking companies with suppliers, obtaining various supplies, shopping and buying online at competitive prices; and finally.

Sukoon
The first holistic mindfulness mobile app in Arabic that provides high-quality recorded audio sessions offering different transformational tools for mental, emotional, and spiritual health and wellness prepared and narrated by expert teachers from the Arab world.

 

Flat6Labs provides startups with funding through the Jordan Seed Fund (JSF), launched in 2021 with a total investment of $20 million, aimed at nurturing the growth and development of 90 early-stage startups during a 5-year investment period. The program is funded by the International Finance Corporation (IFC), the Innovative Startups and SMEs Fund (ISSF), Beyond Capital, Bank Al Etihad, and GMS Ventures & Investments.

Flat6Labs and DisruptAD Launch Largest Cycle Yet with 10 New Startups in Abu Dhabi

The cohort includes 7 UAE-born start-ups and 3 international companies that will now establish significant business operations in Abu Dhabi as they receive world-class mentorship and a total investment of AED8.8 million under the program

Abu Dhabi, United Arab Emirates – 28 June 2022

Flat6Labs, in partnership with DisruptAD, the venture platform of ADQ, today announced the 10 innovative start-ups that have been selected to receive seed funding and world-class mentorship under its flagship Flat6Labs Ignite program. Representing the third cycle of the program, this cohort was meticulously vetted and selected from over 700 applicant organizations from across the globe. 

Launched in March 2021 as a partnership between DisruptAD and Flat6Labs, Flat6Labs Ignite is a specialized seed program committed to supporting up to 60 start-ups in Abu Dhabi over three years. To date, through cycles 1 and 2 of the Ignite Program, Flat6Labs and DisruptAD have graduated 17 start-ups that have cumulatively raised AED14.7 million in funding.

 

“This currently stands as our Ignite program’s largest cycle yet, with 10 start-ups having been selected — a testament to the popularity and value that it delivers. Based on the outcomes of previous cycles, we are confident that by grooming these new start-ups, we will springboard their success, and enable them to become valuable contributors to the entrepreneurship ecosystem and economy in the UAE,” said Ryaan Sharif, General Manager at Flat6Labs UAE.

 

Of the 10 start-ups receiving investments in this new cycle of the program, seven are home-grown UAE companies and the three others have been founded in Poland, Bahrain, and Turkey. The founders and leadership teams of these international start-ups will establish operations in Abu Dhabi, which will now serve as their global headquarters. This is in-line with the Flat6Labs Ignite program’s objective of establishing the nation’s capital as a global entrepreneurial hub and centre for innovation.

Of the 10 start-ups receiving investments in this new cycle of the program, seven are home-grown UAE companies and the three others have been founded in Poland, Bahrain, and Turkey. The founders and leadership teams of these international start-ups will establish operations in Abu Dhabi, which will now serve as their global headquarters. This is in-line with the Flat6Labs Ignite program’s objective of establishing the nation’s capital as a global entrepreneurial hub and centre for innovation.

 

Each of these organisations was selected for investment and inclusion in the program based on their ability to deliver disruptive innovation in their individual market segments, with the aim of pioneering markets in the UAE and subsequently, broader international regions. The 10 organisations selected are: 

 

  • DarDoc: Empowers patients to receive simple to complex care without visiting a hospital, by enabling them to hire a nurse, phlebotomist, or a physiotherapist on demand.
  • Digital First AI: A B2B Martech SaaS provider that leverages AI to enable brands and marketers to easily create and execute effective marketing strategies.
  • Fitlov: A managed marketplace providing fitness and wellness trainers on-demand in UAE, including personal training of any type, massages, life coaching, and nutritionists.
  • FundoMundo: An online, live-education marketplace connecting teachers with learners aged 3 to 18.
  • Hulexo: Helps retailers eliminate stockouts and automatically deploy highly personalised marketing campaigns using AI.
  • Lune: Enables banks, FinTechs and retailers to better serve customers by unlocking insights into customer spending, based on automated analysis of raw transaction data.
  • Makan: A company pioneering the concept of ‘furniture-as-a-subscription’ by enabling consumers to rent furniture monthly with the option of effortlessly keeping, returning or swapping out items as desired.
  • Reach ChannelPro: A SaaS platform that makes it easy for brand owners and their distributors to increase their indirect sales, by digitising channel partner engagement.
  • Savii: Promotes financial responsibility and independence among teens by offering a debit card and banking app that is tailored to their needs and lifestyle.
  • The Scalable CFO: Simplifies finance operations for small businesses by matching them to part-time CFOs from a growing pool of over 6,000 qualified professionals, and also enables the automation of finance and back-office functions.

 

“We are excited to commence this third cycle of our program which sees us supporting start-ups in a variety of new industries — from well-being to martech. The solutions and services of these 10 organisations hold immense value for their target segments and the UAE economy at large. With the expert mentorship and guidance they will now receive, these start-ups have the ability to unlock their full potential, fine-tune their value proposition and rapidly scale their operations in order to accelerate time-to-market,” added Sharif.

Flat6Labs In Abu Dhabi Kick-Off Bootcamp with 20 Innovative Startups

Abu Dhabi, United Arab Emirates – 17 May 2022 –

After receiving and vetting over 650 applications from promising start-ups from over 65 countries — including 158 startups that were founded in the UAE — Flat6Labs, the MENA region’s leading seed and early-stage venture capital firm, this week commenced its 4-day Bootcamp for 20 of the most innovative entrants. Over the course of the week, these start-ups will receive extensive training by seasoned instructors and the Flat6Labs team, based on the ‘Lean Start-up’ approach, following which they will vie for just 10 spots in the third cycle of the Flat6Labs flagship seed program in Abu Dhabi.

With Flat6Labs having already successfully nurtured 18 start-ups, that have cumulatively received over AED18 million in funding, in the previous two cycles of Flat6Labs Ignite — a specialised AED120 million seed program run in partnership with DisruptAD, ADQ’s venture capital platform, to support up to 60 start-ups in Abu Dhabi over three years — this announcement marks a crucial stage in the third intake cycle.

With operations across the MENA region, Flat6Labs has found the start-up ecosystem in Abu Dhabi to be especially active. “25% of applicants to Cycle 3 of our Ignite program were UAE-founded organisations which is not surprising given how the UAE government actively creates policy and reforms to actively promote entrepreneurship. Flat6Labs in partnership with ADQ is here to support this thriving start-up ecosystem and the resounding success we have had over the first two cycles – which have seen companies like RemotePass and Dharma rapidly grow to become dominant players in their respective industries – is testament to the effectiveness of our program,” said Ryaan Sharif, General Manager at Flat6Labs UAE.

The mentorship offered to the start-ups over the course of the Bootcamp includes unparalleled insight on creation of the minimum viable product/service, customer discovery, marketing, go-to-market strategy development, and financial modelling. In conclusion of this training, each start-up will have the opportunity to present its pitch to a Selection Committee comprised of Flat6Labs Management, ADQ’s representatives, veteran venture capitalists and top executives from the region’s leading enterprises for a coveted spot in the third cohort of the Flat6Labs Ignite program.

The companies that are chosen by the Selection Committee will be eligible for seed funding of up to AED1.15 million, and follow-on funding of up to AED2 million. Furthermore, inclusion in the Flat6Labs Ignite program gives selected start-ups tailored support, world-class mentorship, and access to ADQ’s considerable network and resources.

“It’s an exciting week ahead as the 20 start-ups we have shortlisted to participate in the Bootcamp each have the potential to revolutionise critical industry sectors ranging from Health Tech and Agri Tech, to Energy and Logistics. We are confident that the organisations that successfully make the cut will help advance the UAE’s digital economy by becoming drivers of innovation and positive change,” said Jeremy Shorter, Program Director – Abu Dhabi at Flat6Labs.